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FG SUSPENDS 15% IMPORT TAX ON PETROL AND DIESEL, WARNS AGAINST HOARDING

November 13, 2025 • 2 min read

By Adekusibe Ademola
November 13, 2025.

The Federal Government has suspended plans to implement a 15% import duty on petrol and diesel, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced on Wednesday.

The authority assured the public that there is sufficient supply of petroleum products across the country, sourced both from local refineries and imports. This, it said, will ensure timely replenishment of stocks at storage depots and retail stations, even during this peak demand period.

NMDPRA cautioned Nigerians against hoarding fuel, panic buying, or creating artificial scarcity that could cause non-market reflective price increases. The proposed 15% ad-valorem import tax on Premium Motor Spirit (PMS) and diesel is no longer being considered.

The agency also stated that it will continue to closely monitor supply and distribution nationwide and take appropriate regulatory measures to prevent any disruptions. It emphasized the importance of coordinated efforts from all stakeholders in the midstream and downstream petroleum sector to maintain smooth and uninterrupted operations.

The announcement comes amid concerns over potential fuel shortages during periods of high demand. NMDPRA reiterated that the country remains within acceptable national sufficiency thresholds for petroleum products and encouraged cooperation between consumers and suppliers to ensure energy security.

While noting the contributions of local refineries and importers, the authority highlighted that Nigerians can be assured of uninterrupted supply if panic buying and hoarding are avoided.